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German industrial production drops unexpectedly in June

German industrial production fell unexpectedly by 1.1 percent in June 2017 compared to the previous month, according to provisional data published by the Federal Statistical Office (Destatis) on Monday. The result came as a surprise to many. In June, the German ifo Institute had significantly increased its economic forecasts for 2017 and 2018, and said that it was expecting new record highs in employment.